Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $103.9 million, up from $97.9 million in Q4 2024, while full-year revenue for 2025 totaled $370.5 million, a 6% decrease compared to 2024 [8][9] - Gross margins for Q4 2025 were 78% on a GAAP basis, down from 79% in Q4 2024, while non-GAAP gross margins were 79% for both Q4 and full year 2025 [9][11] - GAAP diluted earnings per share for Q4 2025 were $0.42, compared to $1.14 in Q4 2024, and $1.43 for the full year 2025, down from $2.25 in 2024 [11][12] Business Line Data and Key Metrics Changes - Revenue from consumables and services increased slightly compared to last year, indicating early signs of stabilization in patient activity [4] - Minimally invasive technology platforms accounted for 76% of total revenues in Q4 2025, while consumables and services represented 22% of revenue, up from 20% in 2024 [9][10] Market Data and Key Metrics Changes - Sales outside the U.S. totaled $48.5 million in Q4 2025, representing 47% of total sales and a 38% increase compared to Q4 2024, driven primarily by Europe [9] - For the full year 2025, sales outside the U.S. accounted for $171.8 million, or 46% of total sales, representing a 15% increase compared to 2024 [9] Company Strategy and Development Direction - The company views 2026 as a stabilization year following a prolonged period of industry softness, with plans to continue innovating and introducing new platforms [4][6] - A specialized sales team has been established for the Envision platform, aimed at increasing penetration and improving sales productivity [5] - The company plans to launch two new platforms in 2026, including a Korean-made Pico laser device and a device combining new Morpheus technology with Erbium YAG laser [6] Management's Comments on Operating Environment and Future Outlook - Management noted that the industry has not yet fully recovered from the global economic slowdown, with demand in North America remaining below historical levels, but there are early signs of stabilization [7] - The CEO mentioned that interest rates starting to come down could positively impact leasing packages for capital equipment purchases [17] Other Important Information - The company returned $127.4 million to shareholders through a disciplined share repurchase program [13] - The board of directors is exploring strategic alternatives to improve company value, having engaged Bank of America for assistance [20] Q&A Session Summary Question: What signs suggest improving trends in the market? - Management noted a slight increase in procedures and sales in consumables, along with declining interest rates as positive indicators [17] Question: Can you provide updates on strategic alternatives? - The board is considering several strategic alternatives and has engaged Bank of America for assistance, with management not directly involved in the process [20] Question: What are the expectations for gross margins and EBIT margins? - Management indicated that new product launches, particularly lasers, may impact gross margins, and guidance is conservative based on past experiences [27][28] Question: How is the ApexRF platform performing? - The ApexRF platform is being sold alongside other products without a specialized sales team, and management is awaiting FDA indications before pushing it further [72] Question: What is the contribution of new product launches for 2026? - Two new products are expected to be launched in 2026, with significant marketing efforts planned, although specific financial contributions are not yet provided [41]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $103.9 million, up from $97.9 million in Q4 2024, while full-year revenue for 2025 totaled $370.5 million, a 6% decrease compared to 2024 [7][8] - Gross margins in Q4 2025 were 78% on a GAAP basis, down from 79% in Q4 2024, while Non-GAAP gross margins remained at 79% for both Q4 and full year 2025 [8][10] - GAAP diluted earnings per share for Q4 were $0.42, compared to $1.14 in Q4 2024, and $1.43 for the full year 2025, down from $2.25 in 2024 [10][11] Business Line Data and Key Metrics Changes - Revenue from consumables and services increased slightly compared to last year, indicating early signs of stabilization in patient activity [4] - Minimally invasive technology platforms accounted for 76% of total revenues in Q4 2025, while consumables and services represented 22% of revenue, up from 20% in 2024 [8] Market Data and Key Metrics Changes - Sales outside the U.S. totaled $48.5 million in Q4 2025, representing 47% of total sales and a 38% increase compared to Q4 2024, driven primarily by Europe [8] - For the full year 2025, international sales accounted for $171.8 million, or 46% of total sales, reflecting a 15% increase compared to 2024 [8] Company Strategy and Development Direction - The company views 2026 as a stabilization year following a prolonged period of industry softness, with a focus on disciplined execution of its product roadmap and maintaining leadership in the aesthetic industry [4][6] - Product innovation remains a key pillar, with plans to launch two new platforms in 2026, including a Korean-made Pico laser device and a device combining new Morpheus technology with Erbium YAG laser [5][6] Management's Comments on Operating Environment and Future Outlook - Management noted that early signs of stabilization in the U.S. market and gradual improvement in Europe could support future performance [6] - The company is encouraged by a slight increase in procedures and sales in consumables, indicating potential recovery in the aesthetic space [16] Other Important Information - The company has returned $127.4 million to shareholders through a disciplined share repurchase program [11] - The board is exploring strategic alternatives to enhance company value, including hiring Bank of America for assistance [19] Q&A Session Summary Question: What signs suggest improving trends in the market? - Management noted declining interest rates and a slight increase in procedures and consumables sales as early signs of improvement [16] Question: Can you provide updates on strategic alternatives? - The board is considering several strategic alternatives to improve company value, with no direct involvement from management in the process [19] Question: What are the expectations for gross margins and EBIT margins? - Management indicated that new product launches, particularly lasers, may impact gross margins, which are expected to be in the neighborhood of 75% [29] Question: How is the ApexRF platform performing? - The ApexRF platform is being sold alongside other products without a specialized sales team, and management is awaiting FDA indications before pushing it further [73] Question: What is the outlook for international revenue? - Management expressed optimism about increasing direct sales in new subsidiaries, but could not definitively state if international revenue would surpass North America [58]

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Company Overview - InMode is a leading global provider of minimally-invasive aesthetic and wellness solutions [5] - The company has 10 patented technologies across 11 product families [7] - InMode sells its products in 88 countries [7] - The company has 656 employees worldwide, including 284 direct sales reps [19] Financial Performance (Q3 2025) - Q3 2025 revenue was $93.2 million [7] - Non-GAAP net income for Q3 2025 was $24.5 million [7] - Non-GAAP gross margin for Q3 2025 was 78% [7] - Non-GAAP diluted earnings per share for Q3 2025 was $0.38 [7] Technology and Market - InMode addresses the "Treatment Gap" with minimally-invasive technologies [26] - RFAL technology can achieve up to 40% soft tissue contraction [40]

Company Overview - InMode is a leading global provider of innovative, minimally-invasive aesthetic and wellness solutions[5] - The company has a broad radiofrequency (RF) based portfolio, including capital equipment and consumables[5] - InMode sells in 89 countries[7] - The company has 669 employees worldwide, including 297 direct sales reps and a 42 person R&D team[12] Financial Performance (Q2 2025) - Q2-2025 Revenue was $95.6 million[7] - Q2-2025 Non-GAAP Net Income was $30.1 million[7] - Q2-2025 Non-GAAP Gross Margin was 80%[7] - Q2-2025 Non-GAAP Diluted Earning per Share was $0.47[7] Technology and Solutions - InMode addresses the "Treatment Gap" with minimally-invasive technologies[20] - The company has 10 patented technologies across 11 product families[7] - Clinical studies demonstrate RFAL technology can achieve up to 40% contraction of the heated tissue volume[34] - InMode has launched multiple innovative product platforms since 2010[86]

Company Overview - InMode is a leading global provider of minimally-invasive aesthetic and wellness solutions[4] - The company has a broad radiofrequency (RF) based portfolio, including capital equipment and consumables[4] - InMode sells in 90 countries[6] - The company has 641 employees worldwide, including 281 direct sales reps[11] Q1 2025 Financial Highlights - Q1 2025 revenue was $77.9 million[6] - Q1 2025 Non-GAAP net income was $21.4 million[6] - Q1 2025 Non-GAAP gross margin was 79%[6] - Q1 2025 Non-GAAP diluted earning per share was $0.31[6] Technology and Market - InMode addresses the "Treatment Gap" between laser procedures and plastic surgery with minimally-invasive technologies[17, 18] - Clinical studies demonstrate RFAL technology can achieve up to 40% contraction of the heated tissue volume[32]